Energy Transfer - ET Stock Forecast, Price & News

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. The company owns and operates natural gas gathering and natural gas liquid (NGL) pipeline, processing plant, and treating and conditioning facilities in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, and Louisiana; natural gas gathering, oil pipeline, and oil stabilization facilities in South Texas; and a natural gas gathering system in Ohio, as well as transport and supplies water to natural gas producer in Pennsylvania. It owns approximately 5,215 miles of NGL pipeline; NGL and propane fractionation facilities; NGL storage facilities with working storage capacity of approximately 50 million barrels (MMBbls); and other NGL storage assets and terminal with an aggregate storage capacity of approximately 17 MMBbls. The company provides crude oil transportation, terminalling, acquisition, and marketing activities; and sells and distributes gasoline, middle distillate, and motor fuels and other petroleum product. It offers natural gas compression service; carbon dioxide and hydrogen sulfide removal, natural gas cooling, dehydration, and British thermal unit management service; and manages coal and natural resources properties, as well as sells standing timber, leases coal-related infrastructure facilities, collects oil and gas royalty, and generate electrical power. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. The company was founded in 1996 and is headquartered in Dallas, Texas.

Energy Transfer Trading Up 1.6 %

Shares of ET Stock traded up $0.18 during trading hours on Friday, reaching $11.67. The company had a trading volume of 13,982,013 shares, compared to its average volume of 17,354,672. The company has a 50 day moving average of $10.60 and a 200 day moving average of $10.70. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 0.98. The firm has a market cap of $36.02 billion, a price-to-earnings ratio of 9.34 and a beta of 1.90. Energy Transfer has a 1-year low of $7.96 and a 1-year high of $12.48.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Monday, August 8th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.88%. This is an increase from Energy Transfer's previous quarterly dividend of $0.20. Energy Transfer's dividend payout ratio is 73.60%.

Analysts Set New Price Targets

ET has been the topic of several recent analyst reports. US Capital Advisors reissued a "buy" rating on shares of Energy Transfer in a report on Wednesday, June 1st. Morgan Stanley upped their price objective on Energy Transfer from $12.00 to $15.00 and gave the stock an "overweight" rating in a report on Tuesday, April 26th. Finally, Barclays reduced their price objective on Energy Transfer from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, July 20th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $14.25.

Insider Activity

In related news, Chairman Kelcy L. Warren purchased 1,591,092 shares of the business's stock in a transaction dated Tuesday, August 9th. The shares were bought at an average price of $10.94 per share, with a total value of $17,406,546.48. Following the purchase, the chairman now directly owns 49,578,477 shares in the company, valued at approximately $542,388,538.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Richard D. Brannon acquired 26,027 shares of the stock in a transaction that occurred on Thursday, July 14th. The stock was acquired at an average price of $9.47 per share, for a total transaction of $246,475.69. Following the transaction, the director now directly owns 388,347 shares in the company, valued at $3,677,646.09. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kelcy L. Warren acquired 1,591,092 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average price of $10.94 per share, with a total value of $17,406,546.48. Following the transaction, the chairman now owns 49,578,477 shares in the company, valued at $542,388,538.38. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by company insiders.